Sir Fred Goodwin probe delayed
THE publication of a crucial report into the failure of Royal Bank of Scotland is facing delay, after the City watchdog launched a probe into the former chief executive Sir Fred Goodwin’s affair with a colleague.
After Goodwin’s superinjunction banning mention of the affair was partially lifted on Friday, the Financial Services Authority began a probe to see if his relationship contributed to the near demise of RBS, which led to a £45.5billion government bail out in 2008.
The FSA is currently compiling a report into the failure of RBS, and a source said its publication could be delayed, depending on the outcome of the inquiry into the married father’s affair. RBS rules state any personal relationships between employees must be disclosed to bosses. A spokesman for the bank said: “We are co-operating fully with the FSA.”